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Apollo Group To Own Most Of Charter – As Charter sets aside $24 million for key execs….
In: Communication|Computer|Hardware|Site Feeds|Software|VoIP
20 Mar 2009
As we recently noted, Charter Communications plans to file for bankruptcy on April 1, as part of a restructuring effort that will reduce their billion debt load by billion. According to Reuters, the majority of the company will be owned by private equity firm Apollo Group, who is purchasing Charter’s debt. Meanwhile, Light Reading notes that despite the bankruptcy, Charter is spending million in order to retain their top executives, including CEO Neil Smit.
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